SAO PAULO May 6 Morgan Stanley & Co and
JPMorgan Chase & Co were hired to manage a potential
initial public offering of the combined e-commerce units of
France's Casino Guichard Perrachon & Cie and its
Brazilian subsidiary, a source with direct knowledge of the
situation said on Tuesday.
Casino and GPA SA, as the French retailer's
Brazilian unit is known, are considering plans to combine their
online businesses, which have more than $4 billion of sales, and
listing the resulting entity in the United States, according to
a joint securities filing.
According to the source, who declined to be identified
because the deal is in the works, the aim of the plan is to help
Casino build a global e-commerce platform to fend off
competition from Amazon.com Inc, eBay Inc and
Chinese peer Alibaba Group Holding Ltd IPO-ALIB.N.
(Reporting by Guillermo Parra-Bernal; Additional reporting by
Brad Haynes and Aluísio Alves in São Paulo; Editing by Eric